Employee Exit Provision Clause Samples

Employee Exit Provision. 13.1 In the event that any employee of any member of the Seller’s Group becomes or alleges that he has become by operation of the Regulations an employee of either (i) any member of the Purchaser’s Group or (ii) any person who from the end of the relevant Transitional Service provision provides the Transitional Services to the Purchaser by way of replacement of the Seller (a “Replacement Service Provider”), by virtue of his providing any Transitional Service and/or any of the other matters contemplated by this Agreement under this Agreement, then (subject to sub-paragraph 13.2 below) the relevant member of the Purchaser’s Group or any Replacement Service Provider may terminate the employment of such person (each such person being a “Redundant Employee”). 13.2 Prior to the relevant member of the Purchaser’s Group or Replacement Service Provider terminating the employment of any Redundant Employee, the Purchaser or any Replacement Service Provider shall give the Seller not less than 7 Business Days’ written notice of the proposed termination date (the “Termination Date”), in order to enable the Seller’s Group or, as the case may be, the Third Party Provider to: (A) offer that Redundant Employee employment under a new contract of employment to take effect immediately upon such Termination Date; and (B) ensure that the offer to be made will be such that none of the terms and conditions of the new contract will differ from the corresponding provisions of that Redundant Employee's contract immediately before the transfer or alleged transfer of employment to the Purchaser. 13.3 The Parties agree that any termination of the employment of a Redundant Employee shall be by reason of redundancy. 13.4 The Seller shall indemnify on an after-Tax basis the relevant member of the Purchaser’s Group or any Replacement Service Provider against any expenses, losses, fees, costs and/or liabilities arising out of: (i) the employment of a Redundant Employee which transfers pursuant to Regulation 4 of the Regulations and including any failure to comply with Regulation 13 of the Regulations; (ii) a Redundant Employee’s employment with the relevant member of the Purchaser’s Group or any Replacement Service Provider; and (iii) the termination of a Redundant Employee’s employment, provided that: (A) such termination takes place as soon as is reasonably practicable (subject to the #PageNum# Purchaser’s obligations under sub-paragraph 13.2 above) and in any event within one month after ...
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Related to Employee Exit Provision

  • SAVINGS PROVISION If any provisions of this Agreement are held to be contrary to law by a court of competent jurisdiction, such provisions will not be deemed valid and subsisting except to the extent permitted by law, but all other provisions will continue in full force and effect.

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any director, officer or employee of Metropolitan or its Subsidiaries, or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (i) for normal individual increases in compensation to employees in the ordinary course of business consistent with past practice, (ii) for other changes that are required by applicable law, and (iii) to satisfy Previously Disclosed contractual obligations existing as of the date hereof.

  • PROVISIONS SURVIVING TERMINATION The provisions of Sections 10, 14, 16, 21 and 29 of this Agreement shall survive termination of this Agreement for any reason.

  • Change in Control Provisions Notwithstanding anything to the contrary in these Terms and Conditions, the following provisions shall apply to all Stock Units granted under the attached Award Agreement.

  • Employee Termination Regular employees other than those serving a probationary period, shall give twenty-eight (28) calendar days written notice of termination to a representative designated by the Employer with the authority to accept such written notice.